REPLACEMENT COST COVERAGE
If you had a loss, would you want half a VCR?
Dear (Customer Name):
If your one-year-old videocassette recorder set were stolen, would you be fully insured to pay for the cost of a new VCR?
You might not be, but you can be. (Your Agency Name) offers Personal Replacement Cost coverage.
Homeowners policies are occasionally written on an 'actual cash value' basis, meaning the amount the insurance company will pay equals the replacement cost of stolen or damaged personal property minus a deduction for depreciation. The result is that you have to make up the difference in cost yourself.
With Replacement Cost coverage you get:
1. Full cost of replacing the insured items at the time of the loss.
2. Complete cost of repairing or restoring the item at the time of the loss.
3. Up to 400% of the actual cash value at the time of the loss.
4. Any special limits of Liability already described in the policy.
Take advantage of this great offer. Now you can replace the old piece of property with a new one should you have a loss - without paying out of your own pocket.
If you'd like us to add Replacement Cost coverage to your Homeowners policy, just give us a call.
Sincerely,